Bajaj Healthcare rises 6% as Gujarat API site gets nod from TGA, Australia

Bajaj Healthcare shares jumped 5.5 per cent in Monday's trade and registered a 52-week high at Rs 455.85 per share. The buying in the stock sparked after the company received approval from the Therapeutic Goods Administration, Australia (TGA) for the Active Pharmaceutical Ingredient (API) manufacturing site situated at Savli, Vadodara, Gujarat.

 

Around 12:57 PM, Bajaj Healthcare share price was up 4.65 per cent at Rs 452.15 per share. In comparison, BSE Sensex was down 0.13 per cent at 81,605.5. The market capitalisation of the company stood at Rs 1,247.86 crore. The 52-week low was at Rs 265 per share. 

 

 

"This is to inform you that one of the Company’s API Manufacturing Site situated at Block No. 588, Savli-Karachiya Road, At & Post: Gothada, Tal. Savli, Dist: Vadodara, Gujarat has received approval from Therapeutic Goods Administration (TGA), Australia," the filing read. 

 

The mentioned site has already received approval from the US FDA (US Food and Drug Administration) and EU, as per the filing.

 

This recognition by TGA of the site’s manufacturing and compliance capabilities would pave the path for direct supplies of API to this stringent regulated territory as well as supplies to drug product manufacturers across the globe, who are supplying their finished product in the territory of Australia and New Zealand.

 

Post this recognition, the Company expects to attract more CDMO contracts from existing and new clients. 

 

Bajaj Healthcare Ltd. is an Indian pharmaceutical company engaged in the production and supply of Active Pharmaceutical Ingredients (APIs), intermediates, and finished formulations. The company is known for its focus on the healthcare and pharmaceutical sectors, with products serving both domestic and international markets.

 

The company emphasises research and development, focusing on cost-efficient production processes and creating high-quality pharmaceuticals. It operates through manufacturing facilities in India and has a global footprint, exporting to numerous countries.

 

With a strong focus on research and development, Bajaj Healthcare aims to deliver cost-effective and high-quality pharmaceuticals. 

 

In the past one year, Bajaj Healthcare shares have gained 17.9 per cent against Sensex's rise of 17 per cent.